Answer the following question(s) using the information below.Southwestern College is planning to hold a fund raising banquet at one of the local country clubs.It has two options for the banquet:
Southwestern College has budgeted $1,800 for administrative and marketing expenses.It plans to hire a band which will cost another $800.Tickets are expected to be $30 per person.Local business supporters will donate any other items required for the event.
-Which option provides the least amount of risk?
Definitions:
Poor Performance
An outcome that falls below the expected or required standard in any task or activity.
Primacy Effect
A psychological phenomenon where the first pieces of information presented are better remembered than information presented later.
Halo Effect
The tendency to assume that a person has generally positive or negative traits as a result of observing one major positive or negative trait.
Fundamental Attribution Errors
The tendency to overemphasize personality-based explanations for behaviors observed in others while underemphasizing the role of situational factors.
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